Escalade (ESCA) 10-Q 2 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Oct. 07, 2017	Oct. 31, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 7, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Entity Registrant Name	ESCALADE INC
Entity Central Index Key	33,488
Current Fiscal Year End Date	--12-30
Entity Filer Category	Accelerated Filer
Trading Symbol	ESCA
Entity Common Stock, Shares Outstanding		14,370,586

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 07, 2017	Dec. 31, 2016	Oct. 01, 2016
Current Assets:
Cash and cash equivalents	$ 1,646	$ 1,013	$ 4,306
Receivables, less allowance of $570; $910; and $554; respectively	34,774	35,894	37,034
Inventories	42,392	33,802	42,936
Prepaid expenses	3,478	2,798	2,401
Deferred income tax benefit	0	1,283	1,553
Prepaid income tax	520	833	952
Other current assets	0	0	395
TOTAL CURRENT ASSETS	82,810	75,623	89,577
Property, plant and equipment, net	14,215	13,714	13,665
Intangible assets, net	20,058	20,857	21,221
Goodwill	21,548	21,456	21,456
Investments	19,565	19,030	19,268
Other assets	51	81	91
TOTAL ASSETS	158,247	150,761	165,278
Current Liabilities:
Current portion of long-term debt	1,300	1,250	1,405
Trade accounts payable	9,935	4,376	9,726
Accrued liabilities	10,777	12,792	10,342
TOTAL CURRENT LIABILITIES	22,012	18,418	21,473
Other Liabilities:
Long-term debt	24,738	24,189	35,999
Deferred income tax liability	5,375	6,441	7,166
TOTAL LIABILITIES	52,125	49,048	64,638
Stockholders' Equity:
Preferred stock: Authorized 1,000,000 shares; no par value, none issued
Common stock: Authorized 30,000,000 shares; no par value, issued and outstanding - 14,370,586; 14,304,959; and 14,301,959; shares respectively	14,371	14,305	14,302
Retained earnings	93,967	91,688	89,582
Accumulated other comprehensive loss	(2,216)	(4,280)	(3,244)
TOTAL STOCKHOLDERS' EQUITY	106,122	101,713	100,640
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 158,247	$ 150,761	$ 165,278

CONSOLIDATED CONDENSED BALANCE3

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Oct. 07, 2017	Dec. 31, 2016	Oct. 01, 2016
Receivables allowance (in dollars)	$ 570	$ 910	$ 554
Preferred stock, shares authorized	1,000,000	1,000,000	1,000,000
Preferred stock, shares issued	0	0	0
Common stock, shares authorized	30,000,000	30,000,000	30,000,000
Common stock, shares issued	14,370,586	14,304,959	14,301,959
Common stock, shares outstanding	14,370,586	14,304,959	14,301,959

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 07, 2017	Oct. 01, 2016	Oct. 07, 2017	Oct. 01, 2016
Net sales	$ 41,892	$ 38,793	$ 125,097	$ 121,824
Costs and Expenses
Cost of products sold	30,533	28,505	92,376	87,793
Selling, administrative and general expenses	6,866	4,583	22,053	21,256
Amortization	365	376	1,212	1,963
Operating Income	4,128	5,329	9,456	10,812
Other Income (Expense)
Interest expense	(200)	(211)	(601)	(631)
Equity in earnings of affiliates	615	573	639	749
Gain on bargain purchase	0	0	256	0
Other income (expense)	(6)	35	(49)	168
Income Before Income Taxes	4,537	5,726	9,701	11,098
Provision for Income Taxes	1,419	1,483	3,099	3,068
Net Income	$ 3,118	$ 4,243	$ 6,602	$ 8,030
Earnings Per Share Data:
Basic earnings per share	$ 0.22	$ 0.3	$ 0.46	$ 0.56
Diluted earnings per share	0.22	0.3	0.46	0.56
Dividends declared	$ 0.115	$ 0.11	$ 0.345	$ 0.33

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 07, 2017	Oct. 01, 2016	Oct. 07, 2017	Oct. 01, 2016
Net Income	$ 3,118	$ 4,243	$ 6,602	$ 8,030
Foreign currency translation adjustment	444	3	2,064	(66)
Comprehensive Income	$ 3,562	$ 4,246	$ 8,666	$ 7,964

CONSOLIDATED CONDENSED STATEME6

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 07, 2017	Oct. 01, 2016
Operating Activities:
Net income	$ 6,602	$ 8,030
Depreciation and amortization	3,167	4,482
Gain on disposal of property and equipment	(4)	(2,112)
Stock-based compensation	391	230
Gain on bargain purchase	(256)	0
Dividends received from equity method investments	2,168	1,060
Adjustments necessary to reconcile net income to net cash provided by operating activities	(3,640)	(9,778)
Net cash provided by operating activities	8,428	1,912
Investing Activities:
Purchase of property and equipment	(2,298)	(2,206)
Acquisitions	(1,401)	(9,659)
Proceeds from sale of property and equipment	4	2,523
Purchase of marketable securities	0	(395)
Net cash used by investing activities	(3,695)	(9,737)
Financing Activities:
Proceeds from issuance of long-term debt	44,495	54,076
Payments on long-term debt	(43,946)	(39,810)
Proceeds from exercise of stock options	153	531
Deferred financing fees	0	(83)
Cash dividends paid	(4,954)	(4,709)
Director stock compensation	152	144
Net cash provided by (used by) financing activities	(4,100)	10,149
Net increase in cash and cash equivalents	633	2,324
Cash and cash equivalents, beginning of period	1,013	1,982
Cash and cash equivalents, end of period	1,646	4,306
Non-Cash Transactions
Note payable for deferred purchase price obligation	$ 50	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Oct. 07, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	Note A – Summary of Significant Accounting Policies Presentation of Consolidated Condensed Financial Statements – The significant accounting policies followed by the Company and its wholly owned subsidiaries for interim financial reporting are consistent with the accounting policies followed for its annual financial reporting. All adjustments that are of a normal recurring nature and are in the opinion of management necessary for a fair statement of the results for the periods reported have been included in the accompanying consolidated condensed financial statements. The consolidated condensed balance sheet of the Company as of December 31, 2016 has been derived from the audited consolidated balance sheet of the Company as of that date. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted. These consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Form 10-K annual report for 2016 filed with the Securities and Exchange Commission. Reclassifications – Certain reclassifications have been made to prior year financial statements to conform to the current year financial statement presentation. These reclassifications had no effect on net earnings.

Seasonal Aspects

Seasonal Aspects	9 Months Ended
	Oct. 07, 2017
Accounting Policies [Abstract]
Seasonal Aspects [Text Block]	Note B - Seasonal Aspects The results of operations for the three and nine month periods ended October 7, 2017 and October 1, 2016 are not necessarily indicative of the results to be expected for the full year.

Inventories

Inventories	9 Months Ended
	Oct. 07, 2017
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	October 7, December 31, October 1, In thousands 2017 2016 2016 Raw materials $ 4,049 $ 4,781 $ 5,467 Work in progress 3,660 3,671 5,093 Finished goods 34,683 25,350 32,376 $ 42,392 $ 33,802 $ 42,936

Equity Interest Investments

Equity Interest Investments	9 Months Ended
	Oct. 07, 2017
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments Disclosure [Text Block]	Note D – Equity Interest Investments The Company has a 50 11.0 10.4 15.4 4.4 14.6 4.2 50 Three Months Ended Nine Months Ended October 7, October 1, October 7, October 1, In thousands 2017 2016 2017 2016 Equity in earnings of affiliates $ 615 $ 573 $ 639 $ 749 October 7, December 31, October 1, In thousands 2017 2016 2016 Current assets $ 33,874 $ 28,322 $ 28,857 Non-current assets 10,645 9,379 9,908 Total assets 44,519 37,701 38,765 Current liabilities 11,481 4,847 5,604 Non-current liabilities 5,556 5,133 5,583 Total liabilities 17,037 9,980 11,187 Net assets $ 27,482 $ 27,721 $ 27,578 Three Months Ended Nine Months Ended October 7, October 1, October 7, October 1, In thousands 2017 2016 2017 2016 Net sales $ 13,036 $ 10,635 $ 29,333 $ 27,161 Gross profit 6,006 4,918 13,718 12,661 Net income 1,229 1,146 1,278 1,498

Income Taxes

Income Taxes	9 Months Ended
	Oct. 07, 2017
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note E – Income Taxes The provision for income taxes was computed based on financial statement income.

Fair Values of Financial Instru

Fair Values of Financial Instruments	9 Months Ended
	Oct. 07, 2017
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note F – Fair Values of Financial Instruments The following methods were used to estimate the fair value of all financial instruments recognized in the accompanying balance sheets at amounts other than fair values. Cash and Cash Equivalents Fair values of cash and cash equivalents approximate cost due to the short period of time to maturity. Long-term Debt Fair values of long-term debt is estimated based on borrowing rates currently available to the Company for bank loans with similar terms and maturities and determined through the use of a discounted cash flow model. The following table presents estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall in accordance with FASB ASC 825 at October 7, 2017, December 31, 2016 and October 1, 2016. Fair Value Measurements Using Quoted Prices in Significant Active Markets Significant Other Unobservable October 7, 2017 Carrying for Identical Observable Inputs Inputs In thousands Amount Assets (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 1,646 $ 1,646 $ — $ — Financial liabilities Current portion of long-term debt $ 1,300 $ — $ 1,300 $ — Long-term debt $ 24,738 $ — $ 24,738 $ — Fair Value Measurements Using Quoted Prices in Significant Active Markets Significant Other Unobservable December 31, 2016 Carrying for Identical Observable Inputs Inputs In thousands Amount Assets (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 1,013 $ 1,013 $ — $ — Financial liabilities Current portion of long-term debt $ 1,250 $ — $ 1,250 $ — Long-term debt $ 24,189 $ — $ 24,189 $ — Fair Value Measurements Using Quoted Prices in Significant Active Markets Significant Other Unobservable October 1, 2016 Carrying for Identical Observable Inputs Inputs In thousands Amount Assets (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 4,306 $ 4,306 $ — $ — Marketable securities $ 395 $ 395 $ — $ — Financial liabilities Current portion of long-term debt $ 1,405 $ — $ 1,405 $ — Long-term debt $ 35,999 $ — $ 35,999 $ —

Stock Compensation

Stock Compensation	9 Months Ended
	Oct. 07, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note G – Stock Compensation The fair value of stock-based compensation is recognized in accordance with the provisions of FASB ASC 718, Stock Compensation During the nine months ended October 7, 2017 and pursuant to the 2007 Incentive Plan and the 2017 Incentive Plan, in lieu of cash payments of director fees, the Company awarded to certain directors 12,683 14,250 40,782 30 15 0.115 For the three and nine month periods ended October 7, 2017, including expense associated with issuing certain directors stock in lieu of cash for certain director fees, the Company recognized stock based compensation expense of $ 103 543 374 0.6 0.6

Segment Information

Segment Information	9 Months Ended
	Oct. 07, 2017
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note H - Segment Information For the Three Months Ended October 7, 2017 Sporting In thousands Goods Corp. Total Revenues from external customers $ 41,892 $ — $ 41,892 Operating income (loss) 5,046 (918) 4,128 Net income 3,034 84 3,118 As of and for the Nine Months Ended October 7, 2017 Sporting In thousands Goods Corp. Total Revenues from external customers $ 125,097 $ — $ 125,097 Operating income (loss) 11,215 (1,759) 9,456 Net income (loss) 6,835 (233) 6,602 Total assets $ 135,574 $ 22,673 $ 158,247 For the Three Months In thousands Sporting Corp. Total Revenues from external customers $ 38,793 $ — $ 38,793 Operating income 4,334 995 5,329 Net income 2,502 1,741 4,243 As of and for the Nine Months Ended October 1, 2016 Sporting In thousands Goods Corp. Total Revenues from external customers $ 121,824 $ — $ 121,824 Operating income (loss) 11,324 (512) 10,812 Net income 6,492 1,538 8,030 Total assets $ 137,747 $ 27,531 $ 165,278

Dividend Payment

Dividend Payment	9 Months Ended
	Oct. 07, 2017
Payments of Dividends [Abstract]
Dividend Payment Terms [Text Block]	Note I – Dividend Payment On September 18, 2017, the Company paid a quarterly dividend of $ 0.115 1.7 On June 15, 2017, the Company paid a quarterly dividend of $ 0.115 1.7 On March 20, 2017, the Company paid a quarterly dividend of $ 0.115 1.6

Earnings Per Share

Earnings Per Share	9 Months Ended
	Oct. 07, 2017
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note J - Earnings Per Share The shares used in computation of the Company’s basic and diluted earnings per common share are as follows: Three Months Ended Nine Months Ended October 7, October 1, October 7, October 1, In thousands 2017 2016 2017 2016 Weighted average common shares outstanding 14,367 14,289 14,347 14,253 Dilutive effect of stock options and restricted stock units 33 60 33 60 Weighted average common shares outstanding, assuming dilution 14,400 14,349 14,380 14,313 Stock options that are anti-dilutive as to earnings per share and unvested restricted stock units which have a market condition for vesting that has not been achieved are ignored in the computation of dilutive earnings per share. The number of stock options and restricted stock units that were excluded in 2017 and 2016 were 77,600 64,000

New Accounting Standards and Ch

New Accounting Standards and Changes in Accounting Principles	9 Months Ended
	Oct. 07, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Note K – New Accounting Standards and Changes in Accounting Principles With the exception of that discussed below, there have been no recent accounting pronouncements or changes in accounting pronouncements during the three and nine month periods ended October 7, 2017, as compared to the recent accounting pronouncements described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, that are of significance, or potential significance to the Company. In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU) 2016-09, Improvements to Employee Share-Based Payment Accounting, which amends existing guidance related to accounting for employee share-based payments affecting the income tax consequences of awards, classification of awards as equity or liabilities, and classification on the statement of cash flows. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. The new standard requires excess tax benefits and tax deficiencies to be recorded as income tax expense or benefit in the income statement and also requires a policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The Company has elected to account for forfeitures when they actually occur. The new guidance also requires cash paid by an employer when directly withholding shares for tax withholding purposes to be classified in the Consolidated Statement of Cash Flows as a financing activity, which is the classification currently used by the Company. Lastly, the guidance requires that excess tax benefits should be classified along with other income tax cash flows as an operating activity on the statement of cash flows. The Company elected to apply this provision using the prospective transition method. Adoption of this guidance did not impact the presentation of cash flows in the current period. In November 2015, the FASB issued ASU 2015-17 Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. ASU 2015-17 eliminates the current requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations will be required to classify all deferred tax assets and liabilities as noncurrent. The ASU is effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company adopted this standard on January 1, 2017 and has elected to apply the requirements prospectively. Comparative financial statements of prior periods have not been retrospectively adjusted. Adoption of this standard did not impact results of operations or cash flows in the current or previous reporting periods.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 07, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note L – Commitments and Contingencies The Company is involved in litigation arising in the normal course of business. The Company does not believe that the disposition or ultimate resolution of existing claims or lawsuits will have a material adverse effect on the business or financial condition of the Company.

Acquisition

Acquisition	9 Months Ended
	Oct. 07, 2017
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Note M – Acquisition During the nine months ended October 7, 2017, the Company acquired certain assets and liabilities through two acquisitions. These acquisitions, individually and in aggregate, were not and would not have been material to the Company’s net sales, results of operations or total assets during the three and nine month periods ended October 7, 2017. Accordingly, our consolidated results from operations do not differ materially from historical performance as a result of these acquisitions, and therefore, pro-forma results are not presented. Total consideration paid for the acquisitions was $ 1.5 1.4 0.1 ASC 805 requires that when fair value of the net assets acquired exceeds the purchase price, resulting in a bargain purchase, the acquirer must reassess the reasonableness of the values assigned to all of the net assets acquired, liabilities assumed and consideration transferred. The Company has performed such assessment and has concluded that the values assigned appear to be reasonable. In thousands Accounts receivable, net $ 852 Inventories, net 737 Other assets 64 Intangible assets 413 Total fair value of assets acquired 2,066 Total liabilities assumed (563) Net assets acquired 1,503 Total consideration paid (1,101) Gain before deferred income tax liability 402 Income tax liability – deferred (146) Gain on bargain purchase $ 256

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 07, 2017
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Presentation of Consolidated Condensed Financial Statements – The significant accounting policies followed by the Company and its wholly owned subsidiaries for interim financial reporting are consistent with the accounting policies followed for its annual financial reporting. All adjustments that are of a normal recurring nature and are in the opinion of management necessary for a fair statement of the results for the periods reported have been included in the accompanying consolidated condensed financial statements. The consolidated condensed balance sheet of the Company as of December 31, 2016 has been derived from the audited consolidated balance sheet of the Company as of that date. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted. These consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Form 10-K annual report for 2016 filed with the Securities and Exchange Commission.
Reclassification, Policy [Policy Text Block]	Reclassifications – Certain reclassifications have been made to prior year financial statements to conform to the current year financial statement presentation. These reclassifications had no effect on net earnings.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Oct. 07, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	October 7, December 31, October 1, In thousands 2017 2016 2016 Raw materials $ 4,049 $ 4,781 $ 5,467 Work in progress 3,660 3,671 5,093 Finished goods 34,683 25,350 32,376 $ 42,392 $ 33,802 $ 42,936

Equity Interest Investments (Ta

Equity Interest Investments (Tables)	9 Months Ended
	Oct. 07, 2017
Schedule of Joint Ventures Financial Information [Table Text Block]	Summarized financial information for Stiga Sports AB balance sheets as of October 7, 2017, December 31, 2016, and October 1, 2016 and statements of operations for the three month and nine month periods ended October 7, 2017 and October 1, 2016 is as follows: October 7, December 31, October 1, In thousands 2017 2016 2016 Current assets $ 33,874 $ 28,322 $ 28,857 Non-current assets 10,645 9,379 9,908 Total assets 44,519 37,701 38,765 Current liabilities 11,481 4,847 5,604 Non-current liabilities 5,556 5,133 5,583 Total liabilities 17,037 9,980 11,187 Net assets $ 27,482 $ 27,721 $ 27,578
Schedule of Joint Ventures Income Statement Information [Table Text Block]	Three Months Ended Nine Months Ended October 7, October 1, October 7, October 1, In thousands 2017 2016 2017 2016 Net sales $ 13,036 $ 10,635 $ 29,333 $ 27,161 Gross profit 6,006 4,918 13,718 12,661 Net income 1,229 1,146 1,278 1,498
Stiga Sports AB [Member]
Schedule of Joint Ventures Income Statement Information [Table Text Block]	The Company’s 50 Three Months Ended Nine Months Ended October 7, October 1, October 7, October 1, In thousands 2017 2016 2017 2016 Equity in earnings of affiliates $ 615 $ 573 $ 639 $ 749

Fair Values of Financial Inst23

Fair Values of Financial Instruments (Tables)	9 Months Ended
	Oct. 07, 2017
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping [Table Text Block]	The following table presents estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall in accordance with FASB ASC 825 at October 7, 2017, December 31, 2016 and October 1, 2016. Fair Value Measurements Using Quoted Prices in Significant Active Markets Significant Other Unobservable October 7, 2017 Carrying for Identical Observable Inputs Inputs In thousands Amount Assets (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 1,646 $ 1,646 $ — $ — Financial liabilities Current portion of long-term debt $ 1,300 $ — $ 1,300 $ — Long-term debt $ 24,738 $ — $ 24,738 $ — Fair Value Measurements Using Quoted Prices in Significant Active Markets Significant Other Unobservable December 31, 2016 Carrying for Identical Observable Inputs Inputs In thousands Amount Assets (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 1,013 $ 1,013 $ — $ — Financial liabilities Current portion of long-term debt $ 1,250 $ — $ 1,250 $ — Long-term debt $ 24,189 $ — $ 24,189 $ — Fair Value Measurements Using Quoted Prices in Significant Active Markets Significant Other Unobservable October 1, 2016 Carrying for Identical Observable Inputs Inputs In thousands Amount Assets (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 4,306 $ 4,306 $ — $ — Marketable securities $ 395 $ 395 $ — $ — Financial liabilities Current portion of long-term debt $ 1,405 $ — $ 1,405 $ — Long-term debt $ 35,999 $ — $ 35,999 $ —

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Oct. 07, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the Three Months Ended October 7, 2017 Sporting In thousands Goods Corp. Total Revenues from external customers $ 41,892 $ — $ 41,892 Operating income (loss) 5,046 (918) 4,128 Net income 3,034 84 3,118 As of and for the Nine Months Ended October 7, 2017 Sporting In thousands Goods Corp. Total Revenues from external customers $ 125,097 $ — $ 125,097 Operating income (loss) 11,215 (1,759) 9,456 Net income (loss) 6,835 (233) 6,602 Total assets $ 135,574 $ 22,673 $ 158,247 For the Three Months In thousands Sporting Corp. Total Revenues from external customers $ 38,793 $ — $ 38,793 Operating income 4,334 995 5,329 Net income 2,502 1,741 4,243 As of and for the Nine Months Ended October 1, 2016 Sporting In thousands Goods Corp. Total Revenues from external customers $ 121,824 $ — $ 121,824 Operating income (loss) 11,324 (512) 10,812 Net income 6,492 1,538 8,030 Total assets $ 137,747 $ 27,531 $ 165,278

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Oct. 07, 2017
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares [Table Text Block]	The shares used in computation of the Company’s basic and diluted earnings per common share are as follows: Three Months Ended Nine Months Ended October 7, October 1, October 7, October 1, In thousands 2017 2016 2017 2016 Weighted average common shares outstanding 14,367 14,289 14,347 14,253 Dilutive effect of stock options and restricted stock units 33 60 33 60 Weighted average common shares outstanding, assuming dilution 14,400 14,349 14,380 14,313

Acquisition (Tables)

Acquisition (Tables)	9 Months Ended
	Oct. 07, 2017
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The following table summarizes the allocation of the purchase price for the acquisition that resulted in a bargain purchase: In thousands Accounts receivable, net $ 852 Inventories, net 737 Other assets 64 Intangible assets 413 Total fair value of assets acquired 2,066 Total liabilities assumed (563) Net assets acquired 1,503 Total consideration paid (1,101) Gain before deferred income tax liability 402 Income tax liability – deferred (146) Gain on bargain purchase $ 256

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Oct. 07, 2017	Dec. 31, 2016	Oct. 01, 2016
Inventory [Line Items]
Raw materials	$ 4,049	$ 4,781	$ 5,467
Work in progress	3,660	3,671	5,093
Finished goods	34,683	25,350	32,376
Inventories	$ 42,392	$ 33,802	$ 42,936

Equity Interest Investments (De

Equity Interest Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 07, 2017	Oct. 01, 2016	Oct. 07, 2017	Oct. 01, 2016
Equity in earnings of affiliates	$ 615	$ 573	$ 639	$ 749
Stiga Sports AB [Member]
Equity in earnings of affiliates	$ 615	$ 573	$ 639	$ 749

Equity Interest Investments (29

Equity Interest Investments (Details 1) - USD ($) $ in Thousands	Oct. 07, 2017	Dec. 31, 2016	Oct. 01, 2016
Schedule of Equity Method Investments [Line Items]
Current assets	$ 82,810	$ 75,623	$ 89,577
Total assets	158,247	150,761	165,278
Current liabilities	22,012	18,418	21,473
Total liabilities	52,125	49,048	64,638
Stiga Sports AB [Member]
Schedule of Equity Method Investments [Line Items]
Current assets	33,874	28,322	28,857
Non-current assets	10,645	9,379	9,908
Total assets	44,519	37,701	38,765
Current liabilities	11,481	4,847	5,604
Non-current liabilities	5,556	5,133	5,583
Total liabilities	17,037	9,980	11,187
Net assets	$ 27,482	$ 27,721	$ 27,578

Equity Interest Investments (30

Equity Interest Investments (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 07, 2017	Oct. 01, 2016	Oct. 07, 2017	Oct. 01, 2016
Schedule of Equity Method Investments [Line Items]
Net sales	$ 41,892	$ 38,793	$ 125,097	$ 121,824
Net income	3,118	4,243	6,602	8,030
Stiga Sports AB [Member]
Schedule of Equity Method Investments [Line Items]
Net sales	13,036	10,635	29,333	27,161
Gross profit	6,006	4,918	13,718	12,661
Net income	$ 1,229	$ 1,146	$ 1,278	$ 1,498

Equity Interest Investments (31

Equity Interest Investments (Details Textual) - Stiga Sports AB [Member] - USD ($) $ in Millions	9 Months Ended
	Oct. 07, 2017	Oct. 01, 2016
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50.00%
Amortization Of Goodwill	$ 11	$ 10.4
Goodwill, Translation Adjustments	15.4	14.6
Cumulative goodwill adjustments, tax effect	$ 4.4	$ 4.2
Parent [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50.00%	50.00%

Fair Values of Financial Inst32

Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Oct. 07, 2017	Dec. 31, 2016	Oct. 01, 2016	Dec. 26, 2015
Financial assets, Carrying Amount
Cash and cash equivalents, Carrying Amount	$ 1,646	$ 1,013	$ 4,306	$ 1,982
Marketable securities, Carrying Amount			395
Financial liabilities, Carrying Amount
Current portion of Long-term debt, Carrying Amount	1,300	1,250	1,405
Long-term debt, Carrying Amount	24,738	24,189	35,999
Fair Value, Inputs, Level 1 [Member]
Financial assets, Carrying Amount
Marketable securities, Carrying Amount			395
Financial assets, Fair Value
Cash and cash equivalents, Fair Value	1,646	1,013	4,306
Financial liabilities, Fair Value
Current portion of Long-term debt, Fair Value	0	0	0
Long-term debt, Fair Value	0	0	0
Fair Value, Inputs, Level 2 [Member]
Financial assets, Carrying Amount
Marketable securities, Carrying Amount			0
Financial assets, Fair Value
Cash and cash equivalents, Fair Value	0	0	0
Financial liabilities, Fair Value
Current portion of Long-term debt, Fair Value	1,300	1,250	1,405
Long-term debt, Fair Value	24,738	24,189	35,999
Fair Value, Inputs, Level 3 [Member]
Financial assets, Carrying Amount
Marketable securities, Carrying Amount			0
Financial assets, Fair Value
Cash and cash equivalents, Fair Value	0	0	0
Financial liabilities, Fair Value
Current portion of Long-term debt, Fair Value	0	0	0
Long-term debt, Fair Value	$ 0	$ 0	$ 0

Stock Compensation (Details Tex

Stock Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 07, 2017	Oct. 01, 2016	Oct. 07, 2017	Oct. 01, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative Average Volume Weighted Average Price Per Share			15.00%
Common Stock, Dividends, Per Share, Declared	$ 0.115	$ 0.11	$ 0.345	$ 0.33
Director [Member] | Incentive Plan 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			12,683
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Debt Instrument, Convertible, Threshold Consecutive Trading Days			30 days
Common Stock, Dividends, Per Share, Declared			$ 0.115
Restricted Stock Units (RSUs) [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			14,250
Restricted Stock Units (RSUs) [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			40,782
Nonvested Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 103	$ (13)	$ 543	$ 374
Employee and Non Employee Service Share-based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized	$ 600	$ 600	$ 600	$ 600

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 07, 2017	Oct. 01, 2016	Oct. 07, 2017	Oct. 01, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenues from external customers	$ 41,892	$ 38,793	$ 125,097	$ 121,824
Operating income (loss)	4,128	5,329	9,456	10,812
Net Income	3,118	4,243	6,602	8,030
Total assets	158,247	165,278	158,247	165,278	$ 150,761
Sporting Goods [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	41,892	38,793	125,097	121,824
Operating income (loss)	5,046	4,334	11,215	11,324
Net Income	3,034	2,502	6,835	6,492
Total assets	135,574	137,747	135,574	137,747
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	0	0	0	0
Operating income (loss)	(918)	995	(1,759)	(512)
Net Income	84	1,741	(233)	1,538
Total assets	$ 22,673	$ 27,531	$ 22,673	$ 27,531

Dividend Payment (Details Textu

Dividend Payment (Details Textual) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended
	Sep. 18, 2017	Jun. 15, 2017	Mar. 20, 2017
Dividend Payment Terms [Line Items]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.115	$ 0.115	$ 0.115
Dividends, Common Stock, Cash (in dollars)	$ 1.7	$ 1.7	$ 1.6

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Oct. 07, 2017	Oct. 01, 2016	Oct. 07, 2017	Oct. 01, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average common shares outstanding	14,367	14,289	14,347	14,253
Dilutive effect of stock options and restricted stock units	33	60	33	60
Weighted average common shares outstanding, assuming dilution	14,400	14,349	14,380	14,313

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - shares	9 Months Ended
	Oct. 07, 2017	Oct. 01, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	77,600	64,000

Acquisition (Details)

Acquisition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 07, 2017	Oct. 01, 2016	Oct. 07, 2017	Oct. 01, 2016
Total consideration paid			$ (1,500)
Gain on bargain purchase	$ 0	$ 0	256	$ 0
Acquisition One [Member]
Accounts receivable, net	852		852
Inventories, net	737		737
Other assets	64		64
Intangible assets	413		413
Total fair value of assets acquired	2,066		2,066
Total liabilities assumed	(563)		(563)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total	1,503		1,503
Total consideration paid			(1,101)
Gain before deferred income tax liability	402		402
Income tax liability - deferred	$ (146)		(146)
Gain on bargain purchase			$ 256

Acquisition (Details Textual)

Acquisition (Details Textual) $ in Millions	9 Months Ended
	Oct. 07, 2017USD ($)
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Total	$ 1.5
Payments to Acquire Businesses, Gross	1.4
Business Combination, Consideration Transferred, Liabilities Incurred	$ 0.1